Baird Financial Group Inc. Sells 15,696 Shares of Veeva Systems Inc. $VEEV

Baird Financial Group Inc. lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 221,466 shares of the technology company’s stock after selling 15,696 shares during the quarter. Baird Financial Group Inc.’s holdings in Veeva Systems were worth $63,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new stake in Veeva Systems during the 2nd quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $32,000. Maseco LLP bought a new stake in shares of Veeva Systems during the second quarter worth approximately $35,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Veeva Systems during the second quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC acquired a new position in Veeva Systems in the second quarter valued at approximately $68,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

NYSE:VEEV opened at $242.24 on Friday. The stock has a 50-day simple moving average of $281.00 and a 200 day simple moving average of $278.57. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The company has a market cap of $39.82 billion, a PE ratio of 47.13, a PEG ratio of 1.79 and a beta of 1.05.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.95 by $0.09. The firm had revenue of $0.81 million for the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.75 EPS. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. On average, research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on VEEV shares. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 target price on shares of Veeva Systems in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Veeva Systems in a research note on Monday. Robert W. Baird upped their price objective on Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Evercore ISI increased their target price on Veeva Systems from $285.00 to $295.00 and gave the company an “in-line” rating in a research note on Thursday, August 28th. Finally, TD Cowen upgraded Veeva Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $297.00 to $380.00 in a research report on Tuesday, October 7th. Twenty investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $305.88.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 3,350 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 14,595 shares of Veeva Systems stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00. Following the completion of the sale, the senior vice president directly owned 8,588 shares in the company, valued at approximately $2,576,400. This represents a 62.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 24,665 shares of company stock valued at $7,438,000. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.